Green Tea Group's second-largest shareholder Partners Group exits, board representative resigns

21st Century Business Herald Reporter Liu Jingxi

Green Tea Group (06831.HK), a Hong Kong-listed catering company, announced on Monday (September 21) that Xu Ruijie has resigned as a non-executive director due to work arrangements, effective September 21, 2026.

The board recently received notification from the company's shareholder, Partners Group Gourmet House Limited (Partners Gourmet), that it had disposed of all its shares in the company through an over-the-counter transaction (the "Disposal").

Following the Disposal, Partners Gourmet no longer holds any shares in the company, marking a complete exit.

Partners Gourmet is a global private equity institution that invested in Green Tea Group prior to its listing. According to the 2025 annual report, as of the end of last year, the entity held a 15.76% stake in Green Tea Group, making it the company's second-largest shareholder. Xu Ruijie was the director representative appointed by Partners Gourmet. Following the full divestment, its appointed director has also stepped down. The announcement stated that there is no disagreement between Xu Ruijie and the board, and the change is a routine governance adjustment resulting from the financial investor's exit.

Green Tea Group (06831.HK) was listed on the Hong Kong Stock Exchange on May 16, 2025, raising HK$1.211 billion at an issue price of HK$7.19 per share.

Recent Negative Publicity

In late August of this year, Green Tea became embroiled in negative publicity after a third-party disinfection service provider was found to have illegally used dichlorvos (DDVP) during operations. An undercover investigation by The Beijing News revealed that Xiamen Lvlin Sen Company poured dichlorvos into unlabeled water bottles and sprayed it near restaurant tables, utensils, and food preparation areas. Multiple Green Tea outlets in Xiamen were involved, and the incident quickly trended on social media.

The incident was exposed on August 24. The company's share price closed down 7.3% that day, followed by further declines: 8.4% on August 26, and a drop of nearly 14% intraday on August 28.

Stock Performance

As of press time, Green Tea Group (06831.HK) closed at HK$5.005 per share, up 1.73% from the previous day, with a total market capitalization of HK$3.296 billion.